The pandemic triggered a serious economic shock, giving rise to great uncertainty. CEOs, CFOs, investors and shareholders have had to restructure their financial plan to get to the next stage of growth and recover sales. Moreover, in every company there comes a time when a change is required. This is where we welcome the interim CFO, or in other terms, the prototype of a modern day CFO.
Pre-pandemic, the economy was expanding. We’d come out of the global economic crisis wounded but wiser, and looking for change. With startups everywhere and SMEs acknowledged for their serious contribution to the economy, things were pretty good. But no one was prepared for COVID-19.
Staying on track financially can be one of the most challenging aspects of creating and managing a startup. If it wasn’t hard enough, the global pandemic has added another dimension of difficulty which even the most robust of businesses have struggled to navigate. However, there are a few key things that startups can do to stay on top of their finances. Below are five tips for startups aiming to become a thriving and profitable business.
